Haddad Presses for Selic Cut, Calls Rate Debate a 'Taboo' as Copom Wraps Up

Overview

• Brazil's monetary policy committee meets Wednesday to decide whether to maintain or change the Selic.
• Speaking to reporters in Brasília, the finance minister said that if he were a Banco Central director he would vote to cut the rate.
• He argued the current level harms economic performance without threatening inflation and urged greater reasonableness in policy.
• Haddad reiterated his stance at a Bloomberg event in São Paulo and criticized the stigma around discussing interest rates.
• The Banco Central will publish its communiqué after the market close, and local reports say many analysts expect the rate to be held at 15%.